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Seeking Alpha 2022-01-26 17:44:00

Gemini affiliate gets FINRA approval to operate a registered broker-dealer

The Winklevoss twins' cryptocurrency exchange, Gemini, says that its affiliate, Gemini Galactic Markets, receives FINRA approval to operate a broker-dealer registered with the Securities and Exchange Commission, according to the company's blog post. Gemini Galactic, which is now a FINRA member, can operate an alternative trading system that facilitates the trading of digital asset securities, the blog reads. “These securities will initially include private placements and, as the market matures, may include public offerings as well,” Gemini Director of Custody Operations John Reinhardt told CoinDesk via email. Gemini joins a handful of long-standing FINRA members that offer crypto trading, such as Interactive Brokers (NASDAQ:IBKR), which launched digital asset trading for U.S. financial advisors back in mid-October. In the crypto world, bitcoin (BTC-USD +2.3%) climbs towards $49K per token and ethereum (ETH-USD +5.2%) jumps back over $2.6K. Earlier this month, Gemini bought a digital asset platform for wealth managers.

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